Turkey’s HIPS market gains premium over China after ten weeks
Source: ChemOrbis Price Wizard
The main trigger behind the bullish HIPS market was sharply surging butadiene costs both in Asia and Europe. On a FOB South Korea basis, spot butadiene prices posted a cumulative increase of more than $900/ton within a period of one month. The butadiene contract also settled up €140/ton for January compared to December in Europe.
Additionally, a trader in Turkey stated, “HIPS supply seems relatively limited compared to the previous weeks. We mostly hear Malaysian cargos in the country with fewer sources being available for this product. This must be another reason that keeps HIPS strong despite buyers’ resistance to higher offers.”
Meanwhile, import GPPS prices in Turkey remained below the levels in China, although the discount amount compared to that market has narrowed to around $85/ton from as large as $160/ton in mid-December, as can be seen on the chart below.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Global polymer markets face soaring freights amid pent-up demand
- RCEP to boost Asia-Pacific polymer trade; will global PP, PE trade flows change?
- PVC sellers’ India pricing strategy may differ from other Asian markets
- More US PE offers find way to China, SE Asia; yet allocations still limited
- European PVC market hits 2-year high on tightness
- Supply constraints send key ABS markets to new highs
- Tightness leads to renewed PP hikes in China; Saudi raffia moves above $1000 CIF
- Asian PVC players brace for 7th straight monthly hike in Taiwanese major’s delayed Dec offers
- Saudi major seeks hikes for November in global PE, PP markets
- Bullish sentiment for PE cools off across globe, LD remains resilient